Under the parent company concept of consolidated financial statements, the minority interest in net assets of a subsidiary is displayed as a liability

Select one: True False

The excess of investment over book value in a Parent-Subsidiary is assigned to goodwill assuming that assets and liabilities book value are equal to their fair value .

Select one: True False

A corporation using the equity method of accounting for its investment in a 60%owned investee, which earned $20,000 and paid $5,000 in dividends

What is the debit side of journal entry to record income from subsidiary ?

Select one: a. income from subsidiary b. cash c. investment d. NCI in net in net assets